Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $13.99 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 437,657 shares of the financial services provider’s stock after purchasing an additional 28,285 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.06% of Fifth Third Bancorp worth $13,988,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Fifth Third Bancorp by 9.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,066,759 shares of the financial services provider’s stock worth $539,843,000 after acquiring an additional 1,390,960 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Fifth Third Bancorp by 175.4% in the second quarter. BNP Paribas Arbitrage SA now owns 1,267,823 shares of the financial services provider’s stock worth $42,599,000 after purchasing an additional 807,443 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Fifth Third Bancorp by 6.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,192,862 shares of the financial services provider’s stock valued at $481,741,000 after purchasing an additional 721,901 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Fifth Third Bancorp by 20.1% in the second quarter. Goldman Sachs Group Inc. now owns 3,439,740 shares of the financial services provider’s stock valued at $115,576,000 after purchasing an additional 575,314 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Fifth Third Bancorp during the second quarter worth about $13,543,000. 80.17% of the stock is owned by institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In related news, CEO Timothy Spence acquired 7,763 shares of the business’s stock in a transaction that occurred on Friday, October 21st. The shares were bought at an average cost of $32.29 per share, with a total value of $250,667.27. Following the completion of the purchase, the chief executive officer now directly owns 224,417 shares in the company, valued at $7,246,424.93. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 10,209 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $35.76, for a total transaction of $365,073.84. Following the sale, the executive vice president now owns 69,534 shares of the company’s stock, valued at $2,486,535.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy Spence purchased 7,763 shares of the firm’s stock in a transaction on Friday, October 21st. The shares were acquired at an average price of $32.29 per share, with a total value of $250,667.27. Following the completion of the acquisition, the chief executive officer now owns 224,417 shares in the company, valued at approximately $7,246,424.93. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.

Fifth Third Bancorp Stock Down 0.7 %

Shares of NASDAQ FITB opened at $34.64 on Monday. Fifth Third Bancorp has a 1 year low of $30.92 and a 1 year high of $50.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.76 and a quick ratio of 0.75. The firm has a market cap of $23.78 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21. The company has a 50 day simple moving average of $34.11 and a 200 day simple moving average of $34.26.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last released its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.05). Fifth Third Bancorp had a net margin of 27.47% and a return on equity of 13.98%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the business posted $0.94 EPS. On average, research analysts forecast that Fifth Third Bancorp will post 3.43 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, December 29th. Fifth Third Bancorp’s payout ratio is presently 40.62%.

Analyst Upgrades and Downgrades

Several research firms have commented on FITB. Wedbush reissued an “outperform” rating and issued a $39.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, September 28th. Piper Sandler decreased their price objective on shares of Fifth Third Bancorp to $38.00 in a research note on Thursday, September 29th. Morgan Stanley restated an “equal weight” rating and set a $37.00 target price on shares of Fifth Third Bancorp in a research note on Monday, December 5th. Royal Bank of Canada decreased their price target on Fifth Third Bancorp from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, October 21st. Finally, DA Davidson started coverage on Fifth Third Bancorp in a research report on Tuesday, December 20th. They set a “neutral” rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $40.57.

Fifth Third Bancorp Company Profile

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Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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